You have questions
HOME SELLER FAQ’S
A nonrefundable $500 payment is due at the time of listing regardless of whether you are paying $1,000 or 1%. You can pay the $500 by cash, check or ZELLE.
We charge half up front because half of our work is done upfront – from taking photos and measurements to putting detailed information (and those photos) onto the MLS.
We sure can! Maybe you have an investment home to sell or are relocating to another city or state? Or maybe you won’t be purchasing another home for another six months or a year? We can still help. In these circumstances, we charge 1% (with our minimum being $1,000). So the total you pay is 3.4%. It is still incredible savings and value to our sellers!
If you do end up purchasing another home with us later, we will give you $1,000 buyer’s rebate at closing (subject to lender approval) as a thank you for continuing to choose us.
In order to qualify to list your home for $1,000, you will need to be under contract on your next home within three months from the date your current home is sold. Keep in mind, you don’t need to have closed on the next home within three months, just simply be under contract.
If you’re buying later than three months from the date of sale, we will list your home for 1%. However, when you purchase your next home and use one of our buyer’s agent, we will give you $1,000 buyer’s rebate (subject to lender approval). This applies even if it is six months or a year or even two years after you sold your home with us.
We don’t always do open houses and we don’t charge as much. That’s basically it.
No. We’ve found that they’re just not an effective way to sell your home anymore. Most people who go to open houses are either neighbors or buyers who aren’t qualified or aren’t serious (“just looking!”). The fact is, most active buyers search for their next home on the Internet, making open houses a thing of the past. However, with that said, if we believe your home will benefit from an open house due to the location or price, we will do an open house the first weekend that we are on the market.
No. Anyone who tells you this doesn’t understand our business model. They’re probably confusing us with limited service flat fee firms, which require agents to contact homeowners directly with offers; many agents don’t want to work directly with the homeowners. But, since we represent you through the whole transaction, this isn’t an issue with our listings. (Most other agents aren’t even aware we’re a flat fee company until they see our fees at closing.)
With over 10,000 homes on the market at any given time, what are the odds that the 10 agents in a single office have a buyer just perfect for your listing? Slim. So we focus on the tool that works the best: the MLS. It’s the tool all agents in every office use to look for homes for their buyers.
Our listing agreement lasts (about) 6 months. For paperwork simplicity, the expiration date of your listing agreement will be the last weekday of the 6th month from the time you sign. So if you sign your listing agreement at any time in August, your expiration date would be the last weekday of February. You are free to cancel this agreement at any time for any reason, so don’t feel trapped!
Certainly. If you’d like to use a different buyer’s agent for the purchase of your next home, our fee is simply 1% of your sales price instead of $1,000.
In the Internet age, no one can promise “all.” We can promise that your home will be advertised on all the websites any other agent’s homes will be advertised on. (That’s because all these website feed from the same MLS database. There’s no magic to it, no matter what anyone might imply.) The latest stat was that our Triangle MLS feeds out to over 500 websites. You can’t ask for better exposure for your home.
We can post up to 30 photos total on the MLS. We understand that photos are one of the most important tools for selling your home since most buyers will do their searching on the Internet. That’s why we use a professional photographer to take our client’s photos. He does a fantastic job and knows exactly what to focus on. His services are included in our listing package. You can schedule the photos directly on his website.
We try to touch base with our sellers via email or phone at least every 30 days while the home is on the market. (Selling your home can seem like a lengthy process – pace yourself.) This will usually be concerning a pricing adjustment or home improvement based on the number of showings and feedback we’ve received. Please keep in mind the average time on market is less than 30 days in this market so if we aren’t under contract within that time frame, it typically points to a pricing or condition issue.
You can always call our office 919-322-0077 at any time during normal office hours should you have any questions.
Once your home is under contract, there will be more frequent communication through our closing coordinator. If you prefer to be contacted more often, please let us know at the time of listing.
Most likely not. We may show our own listings once or twice, but in most cases, potential buyers will be accompanied by their own agents.
Prorated taxes, attorney’s fees, and state revenue stamps are a few of the fees all sellers are required to pay at closing, no matter who you are listed with.
In addition, it’s common for buyers to ask that sellers pay some of their closing costs; we can negotiate this and roll it into the sales price. Buyers will also often ask for a home warranty, which is typically around $500.
While we can’t account for everything, when you first list your home, we’ll provide you with an estimate of what you can expect to net at closing. (We don’t like for there to be surprises any more than you do.)
It depends on the age of your home and how long you’ve lived there. If you haven’t had the home inspected in the last 5 years and your home is more than 15 years old, then yes, we recommend you get a home inspection prior to listing. It ends up saving you a ton of money as you know what needs to be repaired prior to putting it on the market and there are no surprises later on that might make a buyer walk away.
As far as an appraisal, it is only the opinion of one person and has no power over what a buyer thinks your home is worth. At the end of the day, price is determined by what a buyer is willing to pay – and what you are willing to accept.
In 2017, the average time on market in Wake County was 26 days. But remember, that’s just an average. The actual time it takes to sell can vary greatly depending on where your home is, its condition and the price. Typically, it should sell within 6 months, but in more rural areas it could take longer. If it doesn’t sell during our six month contract, you can extend another six months without any additional fees OR if you choose to take it off the market for a while, we will relist whenever you are ready for a $100 re-list fee or $200 if new photos are needed.
Good question. Most agents are in denial that the real estate market has changed, and that their fees have to change accordingly. They try their best to justify why they charge so much, but at the end of the day we just don’t buy it. We beleive we’ll see the real estate world change dramatically in the coming years as more and more sellers look for alternate ways to sell their homes.
First of all, congratulations! Secondly, here is what we can offer. If you’re planning on selling two homes and buying another, we will list one of your homes for $1,000 and the other for 1%.
The timeline of listing your home is mostly up to you! We can expedite the process with our new List Now feature where your home will be on the market within 2-3 days or, if you go the traditional route, where you meet with our Listing Specialist first, then typically your home will be listed within one week of contacting us.
HOME BUYER FAQ’S
Several. First, relax – we can help make this easier for you. Set up your free 1-hour consultation with us and we can walk you through the whole process.
About two to three months before you want to close on a home. Closing takes 30-45 days; this gives us about four to six weeks to find the right home for you. We are really good at what we do (if we do say so ourselves) and can help you narrow down the choices quickly to the best available options. Typically, our buyers find the right home after viewing 5-8 houses.
The first step, before you see any homes, is to speak to a lender and get preapproved for a mortgage – that way you’ll go into the process knowing exactly how much home you can afford. Fortunately, we know a few good lenders.
Once you’ve been prequalified by a lender, we can show you any homes that are on the market. You can schedule an appointment online or email us to set up a time to meet.
We completely understand the desire to get best deal out there – but you don’t have to drive yourself crazy waiting to see what’s around every corner. That’s what we’re here for. We can quickly narrow down the 10,000+ homes on the market in the Triangle to just those homes that meet your specific needs. By working with us, you will save tons of time. Not to mention gas.
Absolutely. You may get a different answer from the builder’s sales reps; just keep in mind who they are working for. The fact of the matter is you’re not going to get a better deal from a builder just because you don’t have an agent – so don’t pass up the opportunity to make sure someone is looking out for your best interests.
There’s also a practical consideration: We see a lot of homes, and can make suggestions on upgrades that make sense versus things that may be overpriced. And while everyone loves the model home in new communities, they’re loaded with upgrades. We know the right questions to ask to make sure you know what’s included in the base price and what you’re really paying extra for.
And, of course, we can also look at the recent sales in the neighborhood to see how much the builder is negotiating on the prices, and help you compare what you’re looking at to other new communities nearby that you may not have explored yet.
The answer depends on the type of financing you qualify for.
There are still 100% financing, no-money-down loans available for first-time and repeat buyers. In those cases, your closing costs (fees associated with purchasing the home like mortgage fees, prorated taxes, homeowners insurance, etc.) are typically around 3% of your purchase price. However, we can often negotiate to have the seller pay this, so you won’t have to pay money out of pocket to closing. You will still be responsible for an initial deposit of around 1% of the sales price as well as fees for appraisal (roughly $400) and a home inspection ($400-$600).
Everyone’s financial situation is different. The best person to discuss this with to get a more specific answer is one of our trusted lenders.
FAQ’S ON ESTIMATING YOUR HOME’S VALUE
First the bad news: Spending $5,000 on a new deck will not add $5000 to the value of your home. No improvement will add dollar-for-dollar value.
Now the good news: Most improvements, such as new carpet or paint, indirectly add value by helping your home sell faster and at a higher price. Bigger items like a new roof or air conditioning system add value in a similar way, except buyers tend to view them as required maintenance rather than upgrades.
Also keep in mind that the condition of neighboring homes on the market, and any improvements they may have undergone, can have an impact as well.
NO! (Did we say that loudly enough?) Even agents do this sometimes, and it makes us cringe. It just isn’t an accurate way to determine value; appraisers don’t use the price per square foot and neither should we. In fact, appraisers use about 1/3 of the average price per square foot in a neighborhood to adjust for size differences. For instance, at $100/sq. ft., the value of a home with 100 sq. ft. more than another home isn’t adjusted up $10,000, but rather $3000. (But don’t put too much emphasis on that formula, either.)
The best way to value your home? Compare it to similar homes that have sold recently – homes around the same age, location, size and features (2 story or 1 story, garage versus carport) as yours. We can also give you a free estimate as to what your home is worth.
Zestimates are what Zillow.com calls its estimate of your home’s worth. These are based mainly on tax records, and therefore are often inaccurate. Think of it as one more piece of information, but certainly do not let it be a determining factor in considering your home’s worth.
Have another question?
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[…] apart on the same home! Unfortunately, there is no scientific way to price a home (NO, we can’t use price per square foot!), so there is some educated guesswork involved. An experienced Realtor is a home seller’s […]